According to a new report, published by KBV research, The Global Savory Ingredients Market size is expected to reach $14 billion by 2031, rising at a market growth of 7.3% CAGR during the forecast period.
The Synthetic segment is anticipating a CAGR of 7.8% during (2024 - 2031). Synthetic ingredients, which include artificial flavorings, enhancers like monosodium glutamate (MSG), and other chemically derived compounds, are valued for their consistency, potency, and cost-effectiveness. One of the main advantages of synthetic savory ingredients is their ability to deliver consistent flavor profiles across large batches of food products.
The Snacks segment is leading the Global Savory Ingredients Market by Application in 2023; thereby, achieving a market value of $5.7 billion by 2031. There are numerous factors that contribute to the rise in demand for savory snacks, such as the growing trend of on-the-go dining, the increasing prevalence of snacking between meals, and the evolution of consumer behaviors. Consumers are increasingly in search of snack options that are convenient, tasty, and gratifying and can be consumed at any hour of the day.
The Yeast Extract segment is registering a CAGR of 7.1% during (2024 - 2031). Yeast extract is valued for its natural origin and rich umami flavor, making it a popular choice among health-conscious consumers and clean-label product manufacturers. It is widely used in soups, sauces, snacks, and bakery products to enhance flavor without the need for artificial additives. The demand for yeast extract has been driven by the increasing consumer preference for minimally processed and natural ingredients.
Full Report: https://www.kbvresearch.com/savory-ingredients-market/
The Asia Pacific market dominated the Global Savory Ingredients Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.6 billion by 2031. The North America market is expected to witness a CAGR of 6.9% during (2024 - 2031). Additionally, The Europe market is expected to witness a CAGR of 7.1% during (2024 - 2031).
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